Hong Kong Airlines was petitioned for winding-up in the Hong Kong High Court by Stellar Aircraft Holding Limited, an Irish aviation holding company, in March this year. The case was heard again in the Court of First Instance of the High Court today (December 5th).
Hong Kong Airlines stated that it has made progress in debt restructuring and applied to postpone the liquidation case for one month. The petitioner did not object and and the judge ordered that the winding-up case be postponed until 16th January, 2023. The lawyer representing Hong Kong Airlines told the judge this morning that after Hong Kong Airlines was approved by the court to hold a creditors meeting in October this year and the creditors just accepted its debt restructuring plan last Thursday (December 1st).
Hong Kong Airlines can now start the restructuring process, so it asked the judge to adjourn the winding-up petition so that the court can review the restructuring plan later this month to decide whether to accept it.
In addition to Hong Kong, the British court will also hold a court session this Friday (December 9th) to deal with the proposal of Hong Kong Airlines. Hong Kong Airlines requested that the liquidation case be postponed to the 9th of next month, but after consideration, the judge decided to give one more week to adjourn the case to the 16th of next month.
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